MOSCOW, May 13, 2022 (AFP) – Inflation in Russia, which has been skyrocketing for months, rose further year-on-year in April to 17.8%. level. Highest since 2002.
Compared to April 2021, food prices increased by 20.5%. Among the most affected are basic products: cereals (+35.5), pasta (+29.6), butter (+26.1), fruits and vegetables (+33.0).
The price of audio-visual equipment such as TV sets increased by 22.7%, while the prices of building materials increased by 27.5%.
Compared to March this year, prices rose 1.6% in April.
According to the Central Bank of Russia, annual inflation for the full 2022 could reach 23% before slowing down next year and returning to the 4% target in 2024.
High inflation is a result of the post-pandemic economic recovery and the increase in raw material prices, exacerbated by the West’s sanctions against Russia, which affects logistics chains.
Rising prices are eroding Russians’ purchasing power with little savings and are a puzzle to officials.
The central bank sharply raised the benchmark interest rate to 20% in light of the initial sanctions following the invasion of Ukraine in late February, before starting a gradual decline. It is currently at 14%.
source: Noticias
